Orange knocks Petrom off top spot as most profitable company in Romania

Orange, Romania’s largest mobile telecom carrier said its 2008 profit stood at 437.9 million euros and thus takes up the top spot as the most profitable company in Romania, pushing the long-term leader Petrom into third place.

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In 2007, the telecom carrier posted after-tax profit of 366 million euros, and turnover of 1.21 billion euros.

The oil company Petrom recorded a net of 277.6 million euros and 4.54 billion euro turnover in 2008, according to a statement posted on the website of the Ministry of Finance.

However, Petrom keeps its leading position as the largest company in Romania by turnover. In 2007, its net profit was double compared to a year earlier of 532.8 million euros.

The economic crisis has changed the profile of the top largest companies in the local landscape, and pushed the IT&Telecom giant to top spot as the most profitable company in 2008 in Romania.

With a turnover up 6% up to 1.28 billion euros and a headcount of 2,953, Orange Romania, the fully-owned subsidiary of France Telecom group reported 1,673,000 broadband users at the end of the year, 65% more than end-2007 and 10,355,000 clients.